Each Diamond Commonplace Coin is equal, no matter when it’s produced. The IPO of the Coin in March 2021 was priced at $5,000. “For the reason that Coin IPO, international diamond costs have risen, partially on account of investor demand for the commodity,” mentioned Cormac Kinney, Founder and CEO of Diamond Commonplace Co.
Just like the 0.999 normal for gold bars, the Diamond Commonplace is a public index of diamond traits, similar to carat weight, colour and readability, that should be contained in each Diamond Commonplace Coin. The index was established by spending the proceeds of the IPO to buy a statistical pattern of pure diamonds.
“After the profitable institution of the Diamond Commonplace, we’re happy to supply the primary sequence of Cash that conform to the usual set by the IPO,” continued Kinney.
This providing will enhance the float earlier than the diamond commodity is listed on exchanges. The Cash will be traded utilizing a blockchain token saved on a wi-fi chip inside every Coin. The token holder owns the Coin, whereas it’s saved by a custodian for supply on demand. As soon as exchange-trading begins, Diamond Commonplace Co. doesn’t set the value of the commodity -as with gold, the market does.
Along with making ready for spot buying and selling on digital exchanges, Diamond Commonplace commodity futures are accepted for itemizing on MGEX by way of CME Globex®, and an ETF has utilized to record on the NYSE below the ticker DIAM, which choices are topic to regulatory approvals by the CFTC and SEC respectively.
New custody and logistics partnerships with Brinks and Malca Amit
Diamond Commonplace Co. is proud to companion with Brinks, a worldwide chief in safety, custody and transportation companies. Brinks is accepted by the CME to custody commodities for futures contracts, and is upgrading a facility to retailer as much as $350 million price of Diamond Commonplace Cash. Over time, this relationship is anticipated to supply traders and exchanges with custody choices at Brinks amenities worldwide.
Diamond Commonplace Co. additionally developed a logistics partnership with Malca Amit, a specialist in safe storage and delivery of valuable metals, diamonds and artwork, to handle the worldwide export and supply of diamonds to Diamond Commonplace meeting amenities, operated by IGI gemological laboratories.
Particular person and institutional traders are invited to be taught extra or place an order at www.diamondstandard.co
About Diamond Commonplace
Diamond Commonplace Co. is the creator of the world’s solely regulated diamond commodity. By unlocking diamonds as a market-traded asset, Diamond Commonplace Co. helps traders to entry a pure useful resource at present price $1.2 trillion – greater than all of the world’s silver and platinum mixed. A breakthrough onerous asset that may be transacted as a blockchain token, the diamond commodity offers diversification, potential inflation safety, and a brand new retailer of wealth for institutional and particular person traders, whereas bringing transparency and effectivity to the diamond provide chain.
SOURCE Diamond Commonplace Co.